Trusts

A trust is a powerful estate planning tool that can be beneficial to most individuals, even to those with modest assets. It is a legal entity that holds designated property (generally any property of value like stocks, bonds and life insurance policies) for the benefit of you or someone else. It is created in a legal document that names a trustee (one or more individuals or institutions) to manage the property according to your instructions.

Trusts serve many estate planning purposes, including ensuring your property is confidentially transferred according to your wishes (a probated will is a matter of public record), giving you more control over how your assets are used by your heirs, managing your affairs in the event you are disabled, reducing or eliminating probate time and/or expense and even reducing or eliminating taxes.